New Jersey § 18a:71c-22
Full text of New Jersey New Jersey Statutes § 18a:71c-22, with citation guidance and answers to common questions.
§ 18a:71c-22.
a. The authority shall establish and maintain a special fund called the “New Jersey
College Loans to Assist State Students (NJCLASS) Loan Fund” in which there shall be
deposited: (1) all funds received by the authority from the sale of State bonds as
provided by law; (2) all moneys appropriated by the State for the purpose of the
fund; (3) all funds contributed to the authority by private sources, to be used for
the purposes of this article; and (4) any other moneys or funds of the authority,
including the proceeds of bonds, bond anticipation notes, and other obligations issued
by the authority, which it determines to deposit therein. Moneys in the NJCLASS Loan Fund shall be held and applied to make loans pursuant
to this article and to pay for the costs of administering the NJCLASS Loan Program. b. The sum total of all funds on deposit in the NJCLASS Loan Fund shall be maintained
in the amount determined by the authority to be necessary to fulfill its responsibilities
as set forth in this article. c. Moneys in the NJCLASS Loan Fund at any time in excess of the NJCLASS Loan Program
requirements, whether by reason of investment or otherwise, may be withdrawn at any
time by the authority and transferred to any other fund or account of the authority. d. Moneys at any time in the NJCLASS Loan Fund may be invested in any direct obligations
of, or obligations as to which the principal and interest thereof is guaranteed by,
the United States of America or such other obligations as the authority may approve.
Frequently Asked Questions About New Jersey § 18a:71c-22
What does New Jersey Statutes § 18a:71c-22 cover?
Section 18a:71c-22 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:71c-22?
A common citation format is "New Jersey Statutes § 18a:71c-22" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:71c-22 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.